We get asked a lot of questions about LED lighting and ways to save energy. One of the most common is whether or not there are rebates or financing available for certain projects. Whether you are a home or business owner, you can often find rebates and incentives from local and federal governments and utility providers that promote changes that relate to renewable energy and energy efficiency. The level of rebates typically vary and are dependent upon the specific technology.
It is not difficult to find tax incentives for the installation of lighting that is energy efficient. You can deduct from your personal or property taxes, depending on the type of project you complete. It’s important to note that the actual percentage of credit will vary by state and may be spread out over a number of years. Additionally, the technologies that are eligible vary by state. Most recently, the federal government has jumped on board, offering tax credits for those who make their home or business more energy efficient.
Perhaps you want to change the technology in your home or office but don’t have the money necessary to make big changes. There are a variety of loan programs available for the purchase of energy efficient systems and equipment.
You can find low-interest loans from your state government, and there is some financing available from the federal government. What you qualify for will depend on the changes you intend to make. The terms of any of these loans is typically 10 years or less.
Applying for Rebates or Financing
Do not forget that you have a project on your hands. To qualify for a rebate or financing, you may have to provide some proof. While different programs require specific information, you can expect to be asked to provide:
- Location and owner information
- Electric utility provider
- Square footage of location
- Operating hours (in the case of a business)
- Detailed information about your project
- Expected cost of your project
If you already have the financing for your project, be sure to save receipts as you make your purchases. Having this information during tax season will help to ensure that you are given the credit you are due.
Many people find the process of qualifying for rebates, incentives or financing daunting, but don’t. We are here to help you. Like anything in life, these incentives will not last forever. We can help you take advantage of these offers before they expire. Contact us for assistance in making your LED lighting project more affordable. There is help out there for you; let us help you qualify for it.